Rich in community spirit? Consider endowment giving

GAYLORD — Organizers of a free, informational workshop on endowment giving will debunk the myth that “only rich people give to endowments.”

They’ll also inform people about opportunities for endowment giving, both now and in their estate planning.

The Wednesday, May 20 session, “Endowment Funds: The Gift That Keeps on Giving” will be presented at the University Center in Gaylord. The Otsego County Community Foundation (OCCF), the Otsego County Commission on Aging and the Otsego County Historical Society Endowment Committee will host the workshop.

“People who are rich in community spirit give to local endowments to help maintain and build on those qualities we value in our home county,” said Maureen Derenzy, OCCF chairperson. “Whether a donor is able to give $10 or $1,000, annually or as a final gift, every contribution to an endowed fund adds up to make a major impact on a community.”

Sponsors noted that as people are reassessing their financial situations and futures, they may want to learn more about endowments and how the special tax-exempt funds support a community and its values, now and for a lifetime. The original gift to an endowment fund is invested and never spent while investment earnings are directed to improving the community.

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Attorney William Fury, who specializes in estate planning, will join representatives of the sponsoring organizations in presenting the 10:30 a.m.-noon workshop.

Speakers will discuss endowment funds and their benefits; the personal nature of planned giving; options for disposing of assets; and what to consider about planned giving.

Further, they’ll address procedures for endowment giving and provide a question-and-answer session. Refreshments will be served.

While the workshop is free, registration is required. To register, call the Otsego County Community Foundation, 731-0597, by May 15.